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1976 (7) TMI 28 - BOMBAY HIGH COURTExtract: .......y Chandavarkar under the provisions of clause 14 of the agreement cannot be regarded as permissible deductions either under section 10(2)(xv) of the Indian Income-tax Act, 1922, or under section 37 of the Income-tax Act, 1961. Accordingly, our answer to the question referred to us is in the negative. The assessee shall pay the costs of the revenue.
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